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Sounds like a brag post but I actually mean it. I've through about getting out of bitcoin a little because I don't think I should be making this much money without actually putting any work into it.

I know that USD is dead. I know that those who transition first into whatever ultimately will be the new currency will get hugely ahead compared to those who are late. I know that whoever puts their money into whatever is the intermediate decision by the market in the meantime will also get ahead. I know this because I studied econ and heretical econ for years and can see the world through multiple perspectives and can see when those apply. (I know more about the flaws of heretical economics and mainstream economics than most).

Much of the world is going to be poorer because of this transition and mostly because of the money printing that is encouraging it that will make the banks rich. That will be the main cause of poverty, but the inequities of a currency transition aren't going to help.

The truth is that bitcoin owners aren't going to be rich compared to them (the banks). That's where the real wealth transfer is happening. Bitcoin owners are just riding a wake in that great theft. But between the banks and the people who knew how to react to the banks, the people who didn't know anything at all are going to be dirt poor and I feel bad about that. It's unfair for me to use my knowledge to have un-due amounts of wealth while everyone else is poor.

I guess the best I can do is tell white people to invest in it. The effect will be ordinal. It doesn't matter if people do it quickly or slowly. The position in line you take is what determines if the wealth transfer goes to you or someone else, so someone is losing for sure, whoever buys last. The only entire net advantage for the human race to invest in bitcoin soon is to pull the plug on the banks ability to print themselves wealth. They can print worthless trash all they want. As long as you are dumb enough to value it though they can make any amount of wealth for themselves they like, stolen from the people. This is what makes the currency transition inevitable, even with its inequities.

I guess I would suggest at least diversifying. It's not going down. It's just not. I bought at $5,000, which was the low. The absolute bottom for that period of time. If I'm able to do that I clearly understand something. This time it isn't going down. It's going to keep growing until people adopt it for payments, like they already have in Venezuela.

At least diversify. At least prep for how you are going to do business if it does become a crypto world.

Sounds like a brag post but I actually mean it. I've through about getting out of bitcoin a little because I don't think I should be making this much money without actually putting any work into it. I know that USD is dead. I know that those who transition first into whatever ultimately will be the new currency will get hugely ahead compared to those who are late. I know that whoever puts their money into whatever is the intermediate decision by the market in the meantime will also get ahead. I know this because I studied econ and heretical econ for years and can see the world through multiple perspectives and can see when those apply. (I know more about the flaws of heretical economics and mainstream economics than most). Much of the world is going to be poorer because of this transition and mostly because of the money printing that is encouraging it that will make the banks rich. That will be the main cause of poverty, but the inequities of a currency transition aren't going to help. The truth is that bitcoin owners aren't going to be rich compared to them (the banks). That's where the real wealth transfer is happening. Bitcoin owners are just riding a wake in that great theft. But between the banks and the people who knew how to react to the banks, the people who didn't know anything at all are going to be dirt poor and I feel bad about that. It's unfair for me to use my knowledge to have un-due amounts of wealth while everyone else is poor. I guess the best I can do is tell white people to invest in it. The effect will be ordinal. It doesn't matter if people do it quickly or slowly. The position in line you take is what determines if the wealth transfer goes to you or someone else, so someone is losing for sure, whoever buys last. The only entire net advantage for the human race to invest in bitcoin soon is to pull the plug on the banks ability to print themselves wealth. They can print worthless trash all they want. As long as you are dumb enough to value it though they can make any amount of wealth for themselves they like, stolen from the people. This is what makes the currency transition inevitable, even with its inequities. I guess I would suggest at least diversifying. It's not going down. It's just not. I bought at $5,000, which was the low. The absolute bottom for that period of time. If I'm able to do that I clearly understand something. This time it isn't going down. It's going to keep growing until people adopt it for payments, like they already have in Venezuela. At least diversify. At least prep for how you are going to do business if it does become a crypto world.

(post is archived)

[–] • 1 pt

Diversify some of that into other crypto currencies, if you haven't already. The more pies you can have your fingers in, the better.

[–] • 1 pt

Yeah. I have. Now I'm realizing how quickly I need to tax shield myself.

[–] • 1 pt

Civil wars, world War and mass revolution worldwide will come before any crypto currency shift so just focus on living through the chaos and wars to come.

[–] • 0 pt

You will loose every shekel....

[–] • 0 pt

You should not feel bad. You were rewarded for your foresight and being willing to assume the risk of holding and using BTC.

[–] • 0 pt (edited )

Some risk. Given what I knew there was none. That's actually why I bought where I did. I didn't intend to make money. I meant to put it where there was the least risk. Given I saw the high odds that the USD would collapse and at the very least surely lose value I knew that BTC would be zero risk at that time and also likely have a chance of gains. Justification for earning money for taking risks that have value that others won't does makes sense. In this case that's not what happened. Mitigating risk was my first interest.

Opportunity to teach some alternative economics. Have you ever heard of value equivalence theory? It's the idea that you can express any kind of value in terms of dollars or time or energy and then use that conversion to simplify thinking about things. Well one other thing we can express all value in is risk. Normally risk is converted into the others but we can convert the others into risk. When we do that we can look at all economic activity as minimizing risk. Even seeking a profit at the expense of some risk can be seen this way. Profit, or income, reduces risks in your life. Imagine if you had no income how much more risk would be in your life. Income helps reduce risk. It's its main purpose. So we can think of an investment with risks as forming the (hopefully informed) assumption that they gains will reduce risk more than the risk caused by investing in it. When we look at value that way we make clearer decisions. And the exact point on the risk reward frontier we want to be is more clear. We also become more responsible with our decisions because we always pick the most responsible option.

[–] • 0 pt

Donate a little to the site.

I'm certainly not unhappy with my BTC return.

[–] • 0 pt (edited )

This is normal

Money is labor with a promise to produce more. More being interest on that money. Wall Street Stock Exchange traders steal our labor and create more debt to everyone that works. Wall Street stock traders are leaches. They take with zero contribution and make more debt.

The fact you see you are taking and not contributing puts you in a place the real leaches will never be. Also, bitcoin could fail and most will lose their money. Someone gives you paper money for e-money by choice. Not the same as traders. The one level makes a big difference in my mind. Perhaps in the short term, it is the same but the odds are it wont last forever.

I'd keep going if I were you. We both know what is coming and falling on your sword won't help anyone now.

[–] • 0 pt (edited )

I actually am someone who has thrown found money in the trash because I didn't earn it. Money has no value. It's a representation of value. When you throw away money you aren't throwing away a resource. But if you spend found money you are taking some resources out of the economy that you didn't earn. It's actually a theft for whom the victim is more distributed.

I think I'm going to stay in bitcoin, but I'm going to stay working. This is hard for me because work for me involves wearing a mask which I feel an obligation to myself to not expose myself to brain damage for money I don't need.

So I'm trying to figure out where I should work if not where I am now. I want it to be dollar earning because that's an indication that it is putting real value into the system. I have infinite projects (coding) I could work on if I wanted to earn no money but I sometimes think we fool ourselves into thinking they have more value than they do.

IDK. I need a career change. I have the freedom to do it. It needs to not involve wearing a mask. I have no clue where I should go. I guess for now I'll keep my current job because as an able bodied adult I have a responsibility to put some value into our market, especially with so few working.

[–] • 0 pt

> I have infinite projects (coding) I could work on if I wanted to earn no money but I sometimes think we fool ourselves into thinking they have more value than they do.

Yes, people tend to do that. I know I do/did. Now I might not give a project enough value because I have fooled myself too many times in the past.

Good idea to stay in BC and keep what you have now. At least this is the devil you know. Then again, I don't know the details.